U NDERSTANDING S TOCK Courses and

Products Physical items Used internally, or sold Services Items not physically counted Phone, electricity, computer support, classes Fixed Assets Physical items Items used internally, that are not consumables

Internally used stock Is this item going to be used up? or Is it a Fixed Asset?

Depreciable? No – Expense it Yes – put it to the fixed assets clearing account, and create it as an asset in the FA module

True cost of stock Staff time and phone callsAgent feesInsuranceFreightDutyItem price paid to supplier

Get this wrong and you will not know what is making you a profit or a loss

If you do service jobs, you should use Job Costing COMPARATIVE TOTAL IS IN GBP ON COSTS IS IN KINA

These are the total of all extra costs involved with this product ZOOM IN TO ADD THE ON COSTS

If you do service jobs If you rent properties If you do warranty work Get Job Costing, and put stock usage, staff time, and outside services against the job to see what real profits or losses you are making

This is the purchasing system for stock Requisitions Goods Received Supplier Invoice Goods Returned Supplier Credit Note Purchase Order If any of these steps are kept manual, all staff do not have full information If you have field manual POs, enter them in here to have full information Delete out old documents, so that all staff have full information Each document feeds into the next. Information is entered only once

If you sell physical products or services, get a Web Shop If you do not, you can be sure that your competitors will These will feed straight into your Attaché as orders or invoices (your choice)

C ONTROL YOUR STOCK AND YOU CAN CONTROL YOUR COMPANY